Sector Detector: Basic Materials Looks Ready to Rumble

OptionMonster submits: Basic Materials and Energy sectors returned to a leadership role today as the stock market looked to bounce from its recent doldrums. Both sectors advanced about 2%. However, it is Healthcare that has remained consistently strong. And in fact, it is Healthcare that has maintained a steadily strong score in Sabrient’s quantitative SectorCast model. Overall, the market has been mired in a tug-of-war between the “sell in May” crowd and those who see promising signs for the economy but few good options other than stocks for investment. Today’s market action indicates that the “risk trade” is back in favor. Crude oil closed back above $100 (on a healthy 3% gain), and the dollar is looking like it wants to roll over after steadily rising for most of May. Today, Dell (DELL) was strong and Hewlett Packard (HPQ) was weak following their earnings reports. This is an example of a greatComplete Story »